Differences in Taxation Between Corporation and Partnerships
Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Differences in Taxation Between Corporation and Partnerships
LLCs are a very common business organization structure for many small businesses in the United States as they offer the limited liability benefit of a corporation combined with some of the benefits of a sole proprietor or partnership (greater flexibility, less formality, no double taxation). In this activity, you will walk through the steps to form an LLC in California.
Assume you are creating an LLC in California. Complete the following documents for your LLC:
Articles of Organization – complete the Form LLC-1, for your LLC; the first pages are instructions/information, you only need to complete the last page
Operating Agreement – complete the template operating agreement, for your LLC
Differences in Taxation Between Corporation and Partnerships
The Operating Agreement may look like a lot and can be overwhelming, but what you need to complete in the template are the following items:
Name, date, and address on Page 1 (in several places)
Is it a single-member of multi-member LLC? You pick, but understand the difference between the two.
Who are the members (aka owners), and what are they contributing to the LLC? Again, you pick.
Taxation: will the LLC be taxed as a partnership or a corporation? You pick, but understand the difference between the two.
Differences in Taxation Between Corporation and Partnerships
Management: will the LLC be member-managed or manager-managed? Again, you pick, but understand the difference between the two.
Differences in Taxation Between Corporation and Partnerships
Statement of Information – complete the Form LLC-12,for your LLC; the first pages are instructions/information, you only need to complete the last page
You can make up all of the information to complete these documents, however, make sure you understand what is included in each document.
In addition to completing the forms and operating agreement, in a separate word document, type up a brief explanation about why you made the decision you did for each of the following items:
Taxation: explain why you chose to have your LLC taxed as a partnership or a corporation; make sure to specifically address the difference between taxation of a partnership and taxation of a corporation
Management: explain why you chose to have your LLC be member-managed or manager-managed
Differences in Taxation Between Corporation and Partnerships
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
You Can Also Place the Order at www.collegepaper.us/orders/ordernow or www.crucialessay.com/orders/ordernow
Differences in Taxation Between Corporation and Partnerships